Agreed Upon Procedures

This engagement involves a focused examination of specific client concerns and detailed documentation of the procedures undertaken. Through our consulting, we offer constructive feedback and suggestions for improvement. Engagements include special assessments, developer turnover audits, and reserve funding calculations and reporting.

Examples of Engagements:

  • Review and Analysis of Turnover Audit Results:
  • Examination and assessment of previously issued turnover audits.
  • Verification of Special Assessment Expenses:
  • Review and validation of expenses associated with the Association’s special assessment.

Cash Flow Implications Comparison:

  • Comparative analysis of the cash flow implications between two replacement funding methods (e.g., straight-line vs. pooling).
  • Review of Replacement Fund Calculations:
  • Verification of proper replacement fund calculations, ensuring compliance with Florida Statutes.

Preparation of Financial Statements for Internal Users:

  • Creation of financial statements tailored for internal use, such as cash flow statements, cash basis financials, or other non-GAAP financial statements.
  • These engagements are instrumental in providing a thorough understanding of specific financial aspects, facilitating improved decision-making and regulation compliance. 
  • Internal control is the design and documentation of an organization’s procedures adopted to safeguard its assets, ensure the accuracy and reliability of its financial records, promote efficient operations, and mandate adherence to approved managerial policies.